LCV values continue to climb at BCA and passed £10,000 for the first time in July as buyers continued to compete strongly for the stock on offer.
Average used LCV values rose by £187 during July to reach £10,120, the highest recorded average monthly value on record at BCA. Underlining the incredible demand seen for light commercial vehicles, values have risen by £2,422 in the past year, equivalent to a 32% uplift. Over 2,000 individual professional buyers competed for LCV stock at BCA during July.
BCA offers up to 700 light commercial vehicles online daily with an entry of panel vans, car derived vans, dropsides, tippers, minibuses, crewcabs, Lutons and pickups on offer from vendors including UKCGR Commercials and BCA Outsourced Solutions, alongside a wide range of other fleet, lease, rental, finance and dealer sellers.
Stuart Pearson COO BCA UK commented “The used LCV sector is experiencing a perfect storm, with the home delivery, courier, self-employed trades and also the leisure vehicle sector experiencing high demand for vehicles.”
He added “The onset of the pandemic stimulated significant growth in online shopping and, as a result, the number of people working as self-employed delivery, courier and final-mile drivers has risen dramatically. Many need their own vehicle, typically a LWB, high-roof large volume van, and we have seen values rise steadily in this sector.”
“We have also seen significant demand for lcvs that support many small businesses and tradespeople, resulting in rising values for standard panel vans, tippers and dropsides.”
“One of the most interesting developments has been the increase in demand for vans suitable for conversion to motorhomes to service the staycation market. BCA stage twice monthly Caravan and Motorhome online sales and demand has been exceptional this year and continues to increase.”
He added “While there is a view that value performance for lcvs couldn’t get much better, there is a real chance we will see a further spike in demand towards the end of the year to meet the needs of the Christmas trading period – particularly as the well-documented supply challenges around new vehicles continues to have an impact on the wider marketplace.”
Pearson concluded “Our LCV sales continue to be exclusively online, providing our customers with the most efficient access to the widest choice of stock in the wholesale market daily via the BCA Buyer app and BCA Online.”
(* Source: BCA Valuations)
*Article Source www.harrisonsadler.com